According to the Construction Products Association’s Winter Forecasts, published today, construction output is forecast to fall by 2.1% this year due to falls in private housing new build and repair, maintenance and improvement (rm&i) - the two largest construction sectors. The CPA forecasts that construction output will rise by 2.0% in 2025 in line with falling interest rates and a general economic recovery, which, in turn, could ease challenges in the housing and rm&i sectors. Recent disruptions in the Red Sea, however, have been identified as a key risk to the forecasts, potentially leading to supply issues such as delays and accelerating cost inflation.
Read the full press release here.